Money & Banking

Canara Bank’s facilitation centres help the financially deprived

LN Revathy Coimbatore | Updated on November 25, 2017

After completing a certification course in tailoring, Hema, 35 and mother of two, sought to cater to the needs of her neighbours. She could not establish a tailoring shop as this required some investment.

“The small money that I made helped buy books for the children, vegetables and at times some stuff for the family,” she said.

Sitting besides Hema was Manjula, who after completing a beautician course was working in a beauty parlour for close to a year.

Both these women were among the 60-odd persons identified by Avinashilingam Jan Shikshan Sansthan at the instance of Canara Bank MSME Facilitation Centre here for collateral free loan to establish a venture on their own.

The MSME Facilitation Centre in Coimbatore is among the five centres mooted by Canara Bank to cater to the needs of the MSMEs in particular. The other centres are located at Hyderabad, Chandigarh, Noida and Mumbai, said the Head of the Coimbatore MSME Facilitation Centre J Vanangamudi.

The Centre here is now in the process of identifying potential candidates who are keen to start their own venture.

“This is only a beginning. We want to create awareness about the schemes available for people who undergo job-oriented skill development programmes to be on their own. While there are a number of skill development training institutes imparting job-oriented programmes, most of the candidates join some company or other to eke out a living, after completion of the course. If those with a business acumen are given some finance assistance, they can start a small venture and grow it over a period of time. This Facilitation Centre will help imbibe confidence by giving finance to the deserving candidates,” Mr Vanangamudi told Business Line.

Canara Bank, which is the Lead Bank in this district also roped in the District Industries Centre (DIC), whose primary objective is to generate employment by promoting MSMEs.

Highlighting some of the Government schemes such as the New Entrepreneur-cum-Enterprise Development Scheme (NEEDS) and Unemployed Youth Employment Generation Programme (UYEGP), DIC General Manager Asokan told the candidates that the Centre (DIC) would support the beneficiaries of State-sponsored schemes by extending 3 per cent back-end subsidy.

He advised the participants against diversion of funds and prompt repayment of loan dues.

The Director of Avinashilingam Jan Shikshan Sansthan Mr Balasubramaniam said that the institute sponsored by the Ministry of Human Resource Development, Government of India had till date imparted training to over 2 lakh candidates in various need-based vocational programmes.

Published on October 15, 2014

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